Hut 8 Mining Target of Unusually High Options Trading (NASDAQ:HUT)
Hut 8 Mining Corp. (NASDAQ:HUT – Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 25,199 call options on the company. This represents an increase of 96% compared to the typical daily volume of 12,841 call options.
Hut 8 Mining Stock Performance
Shares of HUT stock traded up $1.69 during trading on Tuesday, reaching $12.20. 5,743,588 shares of the company’s stock traded hands, compared to its average volume of 2,175,605. The firm’s 50-day moving average is $2.19 and its 200 day moving average is $2.52. The company has a market capitalization of $2.71 billion, a P/E ratio of -20.35 and a beta of 3.87. Hut 8 Mining has a 1 year low of $3.90 and a 1 year high of $22.75. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.04.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on HUT shares. HC Wainwright increased their price objective on Hut 8 Mining from $1.60 to $2.75 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.50 price objective on shares of Hut 8 Mining in a report on Wednesday, November 15th.
Read Our Latest Stock Report on HUT
Institutional Investors Weigh In On Hut 8 Mining
Several institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP bought a new position in shares of Hut 8 Mining in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP bought a new position in Hut 8 Mining in the 1st quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Hut 8 Mining during the 2nd quarter valued at $28,000. Golden Green Inc. bought a new position in shares of Hut 8 Mining in the third quarter worth $29,000. Finally, Two Sigma Investments LP bought a new position in shares of Hut 8 Mining in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 11.80% of the company’s stock.
Hut 8 Mining Company Profile (Get Free Report)
Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. It provides computing power to the mining pools in exchange for digital assets. The company serve commercial customers across various industries, including financial, healthcare, government, and those in the growing digital asset, Blockchain, gaming, virtual effects, and Web 3.0 space.
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Original: MarketBeat News Feed: Hut 8 Mining Target of Unusually High Options Trading (NASDAQ:HUT)